In the legislation, the kiddie tax is considered to be an offset provision for tax breaks given to small businesses, but there is more to the story.
However, some of those tax expenditures exist for good economic reasons, and the provision of favorable tax treatment for retirement saving is one of them.
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"Bringing in more complication to the tax code, another difficult tax provision for the IRS to administer, and dubious tax policy at best is not the answer, " Zerbe said.
The two men agree that these are best addressed by requiring all but the smallest companies to provide health insurance for their employees, by the provision of tax breaks for people who can not afford to buy cover and by setting up a (relatively low-cost) federally-backed insurance system that anyone could opt into if they choose not to go the private route.
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Residents also felt that they received less value for money and lower levels of service provision for their council tax than urban and more densely populated areas.
And so, layered atop the convoluted tax provision for percentage depletion, the fancy term for imaginary depreciation writeoffs, is a penalty called the alternative minimum tax.
And, when the special tax provision is a deduction or exclusion, the tax benefit is greater for those in higher brackets.
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Notably, Democratic support for the estate-tax provision appeared stronger in the Senate, particularly among incumbents facing re-election in 2012, than in the House.
The top Republican on the Senate Energy and Natural Resources Committee, Domenici's opinion carries significant weight on energy matters, and during the last week, he waged a campaign to defeat the measure if it included the tax provision and renewable mandate for utilities.
Tax provision is the accounting metric for amount of taxes a company owes to all taxing entities, domestic and foreign.
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The 2003 Bush tax cuts were powerful, but their inherent flaw was their sunset provision in 2010, which created uncertainty for economic actors about the 5-year tax outlook by 2006.
The other break involves a special provision for small business known by the section of the tax code where it's found: Section 179.
We massively subsidize health care for wealthy seniors, through Medicare, and for wealthy workers, through a provision of the tax code called the employer tax exclusion.
Even then, McConnell aides fought the administration unsuccessfully to strip a provision that allows taxpayers to claim a tax credit for electricity generated by wind turbines.
For want of a nail in one tax provision, the kingdom and its exchequer could be lost.
In this fall's bank bailout bill, a provision was added to renew many of these tax credits for eight years--but tax credits for wind-produced energy were extended only through 2009.
The new provision extends the tax to age 19, or age 24 for full-time students, effective in 2008.
However, by combining the credits with book value depreciation of the property meant that corporations could receive the double-dip Congress had explicitly argued against individual receiving: with the passive loss provision still in place for corporations, the opportunity existed to take the tax liability and turn it into an investment for corporations.
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The foreign-components provision in 9-9-9 would thereby harness the tax code for the dubious purpose of promoting inefficiency.
Mr McGuinty shows a similar concern for social provision, but leans toward Conservative fiscal policies in speaking of a tax cut after the deficit is eliminated.
Although a sales tax would be better than an income tax, we might easily make do with just the constitutional provision for import tariffs if the government functioned with a smaller budget.
Two factors boosting earnings growth that are not sustainable indefinitely are a declining tax rate (over the past two years) and a lower provision for doubtful accounts despite higher writeoffs.
As Congressional leaders struggle to fashion an energy bill that can become law this year, one provision that's likely to be sacrificed is the extension of the tax credit for energy-saving home improvements.
The cost difference is due in large part to a provision in the Senate bill that would "patch" for one year the Alternative Minimum Tax so that it doesn't start to hit middle- and upper-middle-income families.
Our new under-fives provision - Sure Start, nursery places for three and four year-olds, better maternity and paternity support, a massive extension of childcare supported by tax credits - is enabling parents to choose the provision that is best for them and their children, where previously there was often no provision at all.
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One provision that has garnered attention allows the owners and operators of racetracks to delay tax payments for construction or facility upgrades.
Banco Fator, the investment bank advising the government on the sale, insists that adequate provision has been made for any remaining bad debts, plus any liabilities for staff pensions, tax arrears and other hidden horrors that often come to light when a Brazilian company is sold.
Note: for 2011, the rate is reduced by 2% due to the provision in the 2010 Tax Act to stimulate the economy.
And in the case of the Alternative Minimum Tax, we have a specific offset that pays for an extension of the provision that would keep it from hitting middle-class families for three years.
Moreover, the provision in the war funding bill would create a tougher test for families to get out of paying the kiddie tax.
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